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Cardinal Energy Ltd (Alberta) T.CJ

Alternate Symbol(s):  CRLFF

Energy Oil & Gas E&P
Cardinal Energy Ltd. is a Canadian oil and natural gas company with operations focused on low decline oil in Western Canada. The Company is engaged in the acquisition, development, optimization and production of crude oil and natural gas in the provinces of Alberta, British Columbia and Saskatchewan. Its operating areas include the Midale, South District, Central District, and North District. Its Midale operating area of over 730 million barrels of original oil in place (OOIP) and its low decline in production of 3,200 barrels of oil equivalent per day (boe/d) (net) is supported by both waterflood and CO2 enhanced oil recovery. Its South District operating area is located east of Calgary in southeastern Alberta and produces medium gravity crude, as well as liquids-rich natural gas. Its Central District operation is located in East Central Alberta, which is focused on producing oil from multiple, large OOIP pools. Its North area includes Grande Prairie, Clearwater and other properties.


TSX:CJ - Post by User

Cardinal Energy Ltd (Alberta) > interesting deal
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Comment by EstevanOutsideron Dec 07, 2020 8:58am
249 Views
Post# 32048296

RE:interesting deal

RE:interesting dealIt's crazy to attract Murray Edwards as an investor in CJ.

I don't think it's for the tax pools because he did so as an individual.

The 3-year warrants were a sweetner in the deal, that tells you Edwards think Cardinal Energy will not only be around in 2024 but also trading significantly higher then today.

12% is a crazy rate but these are crazy times and it's a small amount of debt w/ a 2022 maturity.
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